Finance Exams
CFA Level 1 Exam Prep — 342+ Flashcards + Free Mock
342+ flashcards mapped to all 10 CFA Level 1 topic weights — pairs with the printable 2026 formula reference PDF.
Instant .apkg download · Gumroad secure checkout
Free readiness check
Free CFA Level 1 Practice Test | 60-Question Readiness
Run the linked 60-question timed practice test for topic scoring, answer review, and a pass/no-pass remediation plan before deciding what to drill next.
Take free 60-question CFA Level 1 practice testSample cards
What is a forward contract?
A private OTC agreement to buy or sell an asset at a specified forward price on a future date. No money changes hands upfront, and the contract is binding on both parties with no optionality.
What is the no-arbitrage forward price for an asset with no income?
The future value of the current spot price at the risk-free rate for the forward period. Forward price is the no-arbitrage price set to eliminate riskless profit.
What is the forward price for an asset that pays income?
Spot price minus the present value of income, compounded at the risk-free rate. Income reduces forward price because the holder of the spot asset receives it.
Pairs with
CFA Level 1 Formula Reference
54-page printable formula quick reference for the 2026 cycle — 250 typeset formulas, 98 key definitions, and an 80-question recall drill.
Product facts
- Cards
- 342+
- Coverage
- 10 CFA Level 1 topic areas
- Format
- .apkg
- Price
- $11 USD
- Checkout
- Gumroad
- Exam cycle
- 2026 preparation cycle
- Delivery
- Digital download through Gumroad
Coverage by exam topic
| Topic | Exam weight | Cards |
|---|---|---|
| Ethical and Professional Standards | 15-20% | 50+ |
| Quantitative Methods | 6-9% | 35+ |
| Economics | 6-9% | 30+ |
| Financial Statement Analysis | 11-14% | 55+ |
| Corporate Issuers | 6-9% | 25+ |
| Equity Investments | 11-14% | 40+ |
| Fixed Income | 11-14% | 40+ |
| Derivatives | 5-8% | 20+ |
| Alternative Investments | 7-10% | 22+ |
| Portfolio Management | 8-12% | 25+ |
More about CFA Level 1Exam format, study tips, and how this deck compares
CFA Level 1 exam prep
Ethics, quant, FRA, and fixed-income cards include the formula families CFA Level 1 repeats every cycle: TVM and statistics, ratio analysis, forward pricing, duration, and derivatives payoff logic. Pair with the formula reference PDF for printable tables and an 80-question recall drill; use the free 60-question readiness check for topic scoring.
Built for: CFA Level 1 candidates who want structured recall practice for formulas, concepts, and topic definitions.
Covers: 10 CFA Level 1 topic areas.
- Spaced-repetition flashcards
- 342+ exam-focused flashcards
- Topic coverage table and samples on this page
- Linked free 60-question practice test
How this deck compares
Fewer than 400 weighted flashcards beat a 3,000-card dump for CFA Level 1: ethics, FRA, and quant alone account for a third of the exam. This deck matches the 10 topic weights in the table — run the free mock to see where your daily 25-card session should focus.
| Approach | Typical size | Tradeoffs |
|---|---|---|
| Free community decks | 1,000–3,000 |
|
| Budget mega-packs | 1,000+ |
|
| This deck | 342+ exam-focused flashcards |
|
CFA Level 1 study guide
What is inside
The deck spans all 10 CFA Level 1 topic areas in the coverage table. Quantitative Methods cards drill TVM, probability, hypothesis testing, and regression output interpretation. Financial Statement Analysis covers ratio families (liquidity, activity, solvency, profitability), inventory methods, and cash-flow linkages. Fixed Income and Derivatives cards include duration, convexity, forward/futures pricing, and option payoff diagrams. Ethics cards use the Code and Standards framing the exam repeats every sitting.
60-day study plan with the formula reference and free mock
**Days 60–45:** 20 new cards per day across ethics and quant while skimming curriculum readings. **Days 44–30:** Print weak-topic tables from the [matching CFA Level 1 formula sheet](/decks/cfa-level-1-formula-reference-2026); run the [free 60-question readiness check](/mock-exams/cfa-level-1-readiness-check). **Days 29–7:** Review only — take the reference's 80-question recall drill; retake the mock weekly. **Final week:** Ethics-only Anki passes plus flagged formulas from both drill answer keys.
Pitfalls this deck targets
Candidates lose points confusing forward vs futures margin flows, mis-stating inventory COGS under LIFO/FIFO, and mixing standard error with standard deviation. Cards call out those traps explicitly rather than listing definitions alone.
The CFA Level 1 exam is administered by CFA Institute for investment professionals. This page summarizes structure, 2025 topic weights, and independent UniPrep2Go study products (not official CFA Institute material).
- Questions
- 180 multiple-choice (two 90-question sessions)
- Time
- 4 hours 30 minutes total (two sessions with optional break)
- Passing score
- No fixed passing score published; CFA Institute sets the MPS each cycle
- Delivery
- Computer-based at Prometric test centers
- Administered by
- CFA Institute
Knowledge domains and weights
| Domain | Weight |
|---|---|
| Ethical and Professional Standards | 15–20% |
| Quantitative Methods | 6–9% |
| Economics | 6–9% |
| Financial Statement Analysis | 11–14% |
| Corporate Issuers | 6–9% |
| Equity Investments | 11–14% |
| Fixed Income | 11–14% |
| Derivatives | 5–8% |
| Alternative Investments | 7–10% |
| Portfolio Management | 8–12% |
High-yield facts (commonly tested)
- Ethics and Professional Standards is heavily weighted and can determine pass/fail for borderline candidates.
- FIFO assumes the first units purchased are sold first; LIFO is not permitted under IFRS.
- Duration measures the sensitivity of a bond's price to a change in yield.
- The CAPM relates expected return to systematic risk (beta).
- Derivatives include forwards, futures, options, and swaps — each with distinct payoff profiles.
Verify current exam fees, scheduling, and administrative details at www.cfainstitute.org/programs/cfa-program/candidate-resources/level-i-exams. Independent study aid — not official exam material.
FAQ
How many questions are on CFA Level 1?
180 multiple-choice questions split across two 90-question sessions (4 hours 30 minutes total with optional break).
What are the CFA Level 1 topic weights?
Ten topics ranging from 5–8% (Derivatives) to 15–20% (Ethics); see cfainstitute.org for the current cycle.
Is there a fixed passing score for CFA Level 1?
No published cutoff. CFA Institute sets the minimum passing score (MPS) after each exam administration.
More questions (5)
What is included in the CFA Level 1 Anki deck?
The product includes 342+ Anki flashcards covering CFA Level 1 concepts, formulas, and definitions across all 10 topic areas.
What file format is delivered?
The deck is delivered as an Anki-compatible .apkg file through Gumroad.
Is this official CFA Institute material?
No. This is an independent study aid and is not endorsed, promoted, or warranted by CFA Institute.
How do buyers get access?
Buyers complete checkout on Gumroad and receive the digital download according to Gumroad's delivery flow.
How do I import the deck into Anki?
Download the .apkg file from your Gumroad receipt, open the desktop Anki app, choose File then Import, select the .apkg file, and the deck appears in your deck list ready for study.
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Last updated 2026-05-31.